{"id":118668,"date":"2024-12-05T17:54:31","date_gmt":"2024-12-05T17:54:31","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118668"},"modified":"2024-12-10T12:45:29","modified_gmt":"2024-12-10T12:45:29","slug":"109380-gbp-eur-euro-recovers-as-the-french-government-collapses","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\/","title":{"rendered":"GBP\/EUR: Euro recovers as the French government collapses"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is falling after gains yesterday<\/strong><\/li>\n<li><strong>BoE survey shows firms expect lower profits after Budget<\/strong><\/li>\n<li><strong>Euro (EUR) is rising after the French government collapses<\/strong><\/li>\n<li><strong>Eurozone retail sales fall -0.5% MoM<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is falling after gains yesterday. The pair settled +0.21% in the previous session, settling on Wednesday at \u20ac1.2080 and trading in a range between \u20ac1.2040 and \u20ac1.2092. At 16:00 UTC, GBP\/EUR trades -0.15% at \u20ac1.2066.<\/p>\n<p>The euro moving higher despite the French government collapsing. Prime Minister Michel Barnier and his fragile government lost a vote of no confidence with a majority of 331 votes. The minority coalition fell after three months, marking the shortest administration of France&#8217;s Fifth Republic.<\/p>\n<p>However, the move was expected after Barnier had special powers to force through a Social Security budget on Monday.<\/p>\n<p>The common currency pushed off concerns that France is in turmoil politically and economically.<\/p>\n<p>The rain has also shrugged off data showing that retail sales in the eurozone were weaker than expected. Retail sales fell 0.5% month on month in October after rising 0.5% in September. Economists had forecast a fall of 0.3%. This marks the first fall in sales volumes since June and the steepest rate of decline since December 2023.<\/p>\n<p>The data follows yesterday&#8217;s business activity data, which saw the composite PMI fall to a 10-month low. The ECB is widely expected to cut interest rates by 25 basis points next week.<\/p>\n<p>The pound is easing lower as the outlook in the UK deteriorates.<\/p>\n<p>According to the BoE survey published today, over half of UK employees plan to increase prices and cut jobs in response to the new Labour government&#8217;s first budget.<\/p>\n<p>According to the Bank of England&#8217;s monthly decision-maker panel survey, 60% of companies expect to lower their profit margins in order to cope with the rise in National Insurance contributions. However, 54% also expected to raise prices at the same proportion and said that they would also lower employment.<\/p>\n<p>The Bank of England is closely watching how companies respond to the labour budget to assess its potential impact on inflation and, therefore, its likely future path for interest rates.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is falling after gains yesterday BoE survey shows firms expect lower profits after Budget Euro (EUR) is rising after the French government collapses Eurozone retail sales fall -0.5% MoM The Pound Euro (GBP\/EUR) exchange rate is falling after gains yesterday. The pair settled +0.21% in the previous session, settling on Wednesday at \u20ac1.2080 [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":{"0":"post-118668","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-eur-gbp","11":"tag-gbp","12":"tag-gbp-eur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro recovers as the French government collapses - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro recovers as the French government collapses\",\"datePublished\":\"2024-12-05T17:54:31+00:00\",\"dateModified\":\"2024-12-10T12:45:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\\\/\"},\"wordCount\":356,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100802-gbp-eur-pound-shakey-vs-euro.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109380-gbp-eur-euro-recovers-as-the-french-government-collapses\\\/\",\"name\":\"GBP\\\/EUR: Euro recovers as the French government collapses - 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